this post was submitted on 30 Mar 2025
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And this is why being a landlord is not a good thing for you. I used to rent a house that I had purchased with all my savings from my first 10 years of work. Just imagine doing that....here bank, here's 10 years of my hard earned cash! Give me a piece of shit runned down house, I'll fix it for an asshole to destroy that and my investment.
I rented it for exactly the mortgage, taxes and such.
Now the question is, who fucks who? Did I screw the tenants over because they were paying rent to me and I made a profit when I sold the house? Or did they screw me over because I was basically enslaved by their constant broken this broken that attitude?
Was I providing a house that they couldn't afford to buy (clearly they could pay for the mortgage) or was I abusing my exclusive advantage by reportedly giving up a shit ton of my money for over a decade the the bank so that someone else could actually get into a house they could afford?
The fix? Let people buy the god dammed houses! Why the need for 20% down? Why not just let them live in the house and get your mortgage? How about some sort of mortgage thing where part of it goes to the principle and part of it is held for repairs as the 20% insurance? Basically the house is really never owned by anyone other than the bank and they are the ones making a shit ton of profit while the rest of us go broke due to the ever increasing prices...inflation. And remember, once you retire the economy keeps it's inflation. You'll become poor in no time without an income. That is why some people become landlords, just for keeping up with inflation ...but on someone else's back. The problem is mostly the banks and the housing prospectors... Hmmm I could make a ton of money from this building! Individual landlords like I was just get screwed with bad renters who want to damage your investment on purpose because they want to get back at the system. Those people should go burn banks. That's where the problem is. And if the banks don't like it, hey then don't profitize from everyone's life so much. Like make enough for a living so all the employees get paid (that's us too) but don't make billionaires from our money.
You're not a slum landlord and you're not a corporate landlord. When people say they hate landlords, it's usually the corporations that everyone hates. At least, that's who it should be.
Having 1 or 2 properties isn't really the problem and not causing a housing crisis. It's the landlords that price fix and keep them empty to keep the "riff raff" out that should be banned. It's the landlords that buy up all of the housing in an area and then convert them to airbnbs that are a problem. I agree with you that it's also the banks that are taking on loans that the homeowners can't afford so they can sell these properties to the corporations (see above). The banks might even be a part of the corporations buying up all of the housing.
I think most just hate landlords without using any higher level thinking.
Why didn’t you rent to own then?
The 20% is there because we had the financial crisis due to people buying houses that they couldn't afford.
Using the bank in order to get money for a purchase is a good idea, as long as you invest the money.
Even if you can buy the house outright, it's better to borrow money with the house as collateral and invest the rest in market weighted ETFs.